Reopening Bets Fall as J&J Vaccine Paused

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Investing.com —  Traditional retailers from Macy’s (NYSE:M) to Kohl’s (NYSE:KSS) and cruise lines are tumbling after the suspension of the Johnson and Johnson vaccine as pandemic winners are jumping. Airlines were also lower.

Macy’s, Kohl’s and Nordstrom (NYSE:JWN) were all down more than 4% after the Centers for Disease Control and the Food and Drug Administration paused the administration of the one-shot vaccine after six women developed rare blood clotting disorders representing about 0.00008% of the almost 7 million JNJ shots that have been given in the U.S. Cruise lines are down around 1%.

Zoom Video Communications Inc (NASDAQ:ZM) and DocuSign Inc (NASDAQ:DOCU) were more than 4% higher. United Airlines Holdings Inc (NASDAQ:UAL) and Delta Air Lines Inc (NYSE:DAL) were down more than 1.2%.

Investors are being scared off of the reopening trade with the suspension of the JNJ vaccine and concerns it could delay a return to life outside the home. Shares of reopening stocks had rallied this year as more people received vaccines and pandemic-related restrictions started to be lifted across the country.

Airlines dropped as American Airlines (NASDAQ:AAL) said it stands to lose more than $1.2 billion for the first quarter as the pandemic continues to hurt sales, The Dallas Morning News said. American, down more than 4%, reports earnings next week.

The news also sent JNJ shares lower, and boosted Moderna (NASDAQ:MRNA).

 

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